Economy
-
U.S. stocks fall on debt-ceiling and regional-bank worries, but Dow still books weekly gain
U.S. stocks finished lower Friday, weighed down by worries over the debt-ceiling deadline and concerns that more mergers involving regional banks may be needed. How stock-indexes traded The Dow Jones Industrial Average DJIA, -0.33% fell 109.28 points, or 0.3%, to close at 33,426.63. The S&P 500 SPX, -0.14% fell 6.1 points, or 0.1%, to finish…
-
Here’s why Treasury bills are seen as reasonable alternative to stocks for first time in 14 years
For the first time since 2009, the 3-month U.S. Treasury bill rate is now higher than the yield on earnings derived from generally accepted accounting principles for companies in the S&P 500 Index. That’s according to Ed Clissold, chief U.S. strategist, and Thanh Nguyen, senior quantitative analyst, at Ned Davis Research. In a note this…
-
A rising dollar may start weighing on stocks by early June, one analyst says
[]The U.S. dollar, which rallied to a two-month high on Thursday, is demonstrating a bullish signal from a technical perspective and has the potential to trend up in the coming months, according to Sevens Report Research. []The greenback’s strength will weigh on equities, starting by the beginning of June, noted Tom Essaye, founder of Sevens. …
-
Debt on trophy office buildings is starting to buckle as loans come due
The financial fallout from half-empty U.S. office buildings has begun to be reflected in prices for bonds backed by luxury office buildings. From New York City’s famed Park Avenue to San Francisco’s California Street, properties long considered fortress investments are reeling as efforts to return more staff to office buildings in big cities stall. Recent…
-
As Morgan Stanley looks to replace James Gorman, where are the female bank CEOs?
News that James Gorman is planning to step down as CEO of Morgan Stanley has focused attention on the lack of female CEOs at America’s biggest banks. Speaking at Morgan Stanley’s annual shareholder meeting Friday, Gorman said he plans to step down sometime in the next 12 months. Morgan Stanley’s MS, -2.66% board, he added,…
-
Most Americans aren’t happy with how much income tax they paid this year and how to invest in one of the hottest stock market sectors while cutting your risk
Hi, MarketWatchers. Don’t miss these top stories. Most Americans aren’t happy with how much income tax they paid this year Tax fairness and tax burdens are front-and-center, as a fight over the soon-to-be-expiring Trump tax cuts looms. Kia and Hyundai settlement: See if you qualify for part of the $200 million payout Some U.S. cities…
-
What is the G-7? Which countries are in it? Everything to know about this week’s summit.
The Group of Seven kicks off the G-7 summit on Friday as leaders from several nations meet to discuss global issues as well as the economics and finances of their own nations. Here is everything to know about this week’s G-7 meeting: When is the G-7 summit? This year’s G-7 summit begins on Friday, May…
-
More banks could collapse like SVB did because the system favors those ‘too big to fail’
“ To stay in business, these banks did the only thing they could. ” In the wake of the failures of Silicon Valley Bank, Signature Bank and Republic National Bank, a common misconception is that these banks failed because they grew too quickly. On Tuesday, former Silicon Valley Bank CEO Greg Becker testified in a U.S.…
-
U.K. consumer confidence rises for 4th consecutive month in May
Confidence among U.K. consumers improved for the fourth month in a row in May amid signs of easing inflation, despite the squeeze on spending prompted by climbing interest rates. Research firm GfK said its consumer-confidence barometer stood at minus 27 in May, compared with minus 30 a month earlier, matching expectations from economists polled by…
-
Americans are not paying off their credit-card debt. We should be concerned.
The first-quarter dip never happened. Some observers say that’s a problem. Credit-card balances hit $986 billion in the fourth quarter, but remain largely unchanged in the first quarter of the year, the Federal Reserve Bank of New York said in its most recent quarterly report on household debt. It looks increasingly likely that credit-card debt…